adminCOMPANIES that are willing to invest in Zimbabwe do not have to wait for the introduction of Special Economic Zones to apply for special incentives from Government, Industry and Commerce Minister Cde Mike Bimha said. Speaking on the sidelines of the Zimbabwe National Chamber of Commerce annual congress held in Victoria Falls last week, Minister Bimha said Government wanted to see the resuscitation of industry in every way possible and would support any investor to ensure ease of doing business in the country.
“We have been visiting a lot of companies that are under judicial management like Cairns Foods to see how Government can step in and help. I know we are working on modalities to declare certain areas like Bulawayo as SEZs but we don’t have to wait for that process to introduce incentives especially for companies willing to invest,” said Minister Bimha.
Speaking on challenges that investors come across such as delays in taking over companies under judicial management or provisional liquidation and immigration issues, Minister Bimha said he was not aware of any specific incidents but said if that was the case then it was very disappointing as government was working hard to revive industries.
Earlier this month, Sunday Business reported that a Harare textile firm, Paramount Garments, was being frustrated by continued delays in their bid to take over Bulawayo clothing concern, Archer Clothing, adding that the workers were bearing the brunt of this hold-up.
Judicial manager Mr Phillip Ndlovu attributed the delays to the legal process and said the papers had been filed with the courts.
Minister Bimha urged companies like Paramount Garments to approach his office so that the ministry could deliberate and see how best to help in such situations as Government did not want deterrents to the resuscitation process.
“In cases like that we are prepared to intervene and see quick finalisation of such cases. We have no problem engaging appropriate ministries on these issues,” he said.
Foreign investors are on record saying the immigration department was making it difficult for them to set up manufacturing plants as the number of days given to workers like engineers and the investors were too few to set up any meaningful business.
On a survey of foreign investments in Bulawayo’s Kelvin North industrial area earlier in the year, investors said they spoke to Zimbabwe Investment Authority officials on these issues and pleaded with them to help them.
Minister Bimha said they would engage the relevant ministries on this issue so as to keep attracting foreign direct investment which the country needs to help resuscitate industries.
He said Government wanted recommendations from the private sector on what they wanted in terms of improving ease of doing business instead of waiting until policies were pronounced.
“Together we can put Zimbabwe where it belongs and build on the success like the conclusion of the Essar deal which has generated a lot of interest in India. Indians had adopted a wait and see attitude but as soon as they found out that this issue has been concluded, a significant number of potential investors from the Asian country has approached Government,” said Minister Bimha.
Online Reporter